'The economic case for investment is not strong enough': Shell backs out of Cambo oil project

Cecilia Keating
clock • 5 min read
UK oil and gas projects are facing increasing push back from campaigners and economists
Image:

UK oil and gas projects are facing increasing push back from campaigners and economists

Future of controversial North Sea development unclear after minority shareholder Shell backs out citing weak investment case

Shell has backed out of plans to develop the Cambo oil field in the North Sea, in a dramatic decision last night which has been seized on by climate campaigners as heralding a "death blow" for the controversial...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Study: Trump's war on renewables will have only 'marginal impact' on global energy transition

Study: Trump's war on renewables will have only 'marginal impact' on global energy transition

Energy Transition Outlook from DNV warns White House will delay US emissions reductions, but global shift to clean energy will continue to accelerate

James Murray
clock 07 October 2025 • 3 min read
Renewables are set for massive growth by 2030 - but will it be enough?

Renewables are set for massive growth by 2030 - but will it be enough?

Despite Trump's war on clean power, the International Energy Agency expects global renewables capacity to double over the next five years - but further acceleration is needed to meet global climate goals

Michael Holder
clock 07 October 2025 • 8 min read
Alicia Argüello: 'Every day is a mix of strategy, storytelling, and systems thinking'

Alicia Argüello: 'Every day is a mix of strategy, storytelling, and systems thinking'

Hitachi Energy's global head of sustainability explains why the future belongs to those who can blend innovation with a sense of social responsibility

Stuart Stone
clock 07 October 2025 • 7 min read